Income Streams III

Income Streams III

July 10, 2013 13:19 ET

Income STREAMS III: Special Shareholders Meeting Results

TORONTO, ONTARIO--(Marketwired - July 10, 2013) - The Board of Directors of Income STREAMS III Corporation ("STREAMS III") is pleased to announce that Equity Dividend Shareholders voted 97% in favour and Capital Yield Shareholders voted 89% in favour of a proposal that would allow the merger of STREAMS III into Dividend 15 Split Corp. ("Dividend 15") on December 1, 2013. Management would like to sincerely thank shareholders and their advisors for this overwhelming level of support.

As a result, shareholders will (subject to final regulatory approval) have two options at the December 1, 2013 termination date:

1) Capital Yield and Equity Dividend shareholders will be able to have their shares exchanged (based on relative net asset values) for an equal dollar amount of units of Dividend 15 through the merger of STREAMS III into Dividend 15,
2) Capital Yield shares would receive $25 per share and Equity Dividend shares would receive the NAV less $25 (to a maximum of $15 per share) under the existing termination formula as originally contemplated.

Shareholders will not be required to make a decision on this choice until early in November 2013 when further information will be provided.

STREAMS III will now apply for all the necessary regulatory approvals in order to proceed with the merger.

For full details, please review the Notice of Special Meeting of Shareholders and the Management Information Circular which is available on SEDAR and the Company's website at

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

Contact Information

  • Investor Relations
    416-304-4443 or Toll Free at 1-877-4-Quadra (1-877-478-2372)